HONG KONG: French retailer Carrefour SA has removed several potential buyers from the bidding for its stores in Southeast Asia, including Britain's Tesco PLC and Japan's Aeon Co., the Wall Street Journal reported on Saturday.
The newspaper, quoting sources familiar with the matter in its online edition, said others cut out of the bidding included Dairy Farm, which teamed up with its parent, Jardine Matheson Holdings Ltd. It said bidders admitted to the second round included Casino of France, together with Thailand's Big C Supercenter PCL which it part owns, Thai retail group Central Group, Thai consumer products manufacturer Berli Jucker PCL and Thailand's PTT PCL.
Carrefour wants to sell its stores in Malaysia, Singapore and Thailand at a potential price of $1 billion to focus on markets where it holds leading positions. In recent years, Carrefour has withdrawn from other Asian countries, including Japan and South Korea.